Defined Benefit Plans

Alliance Benefit Group provides professional, client-responsive pension administrative and actuarial services to sponsors of defined benefit plans at a savings of 25% to 50% of what they would pay large actuarial firms. Historically, the traditional forms of these plans have been the backbone of the private, multiple employer and multi-employer retirement system and they continue to require the highest level of expertise for successful operation. The defined benefit plan is a unique tool for quickly accumulating retirement funds. Instead of determining contributions, and investing them to produce the greatest possible benefit, the DB plan defines the Benefit Formula, and determines appropriate contributions to fund the benefit.

The Alliance Benefit Group Consulting team supports your goals and needs in designing the benefits that will best suit your organization. These services are offer by ABG’s professional consultants, enrolled actuary, experienced benefit specialists, and client service assistants who will provide you the best, most complete service possible. Annual services include:

  • valuing assets, liabilities and accumulated plan benefits
  • determining pension expense and funded status for financial reporting
  • recommending funding level alternatives
  • testing for plan termination sufficiency
  • providing individual participant benefit statements
  • certifying actuarial information in reports to governmental agencies

Our consultants will provide the technical knowledge to assure that your defined benefit plan stays current with the ever-changing rules and regulations of pension law and will assist you in plan modifications as needed to accomplish your goals. They will also prepare the mandatory participant notices, for you and your counsel’s review, relating to plan changes.

In addition, if you are moving from one plan to another, or are contemplating any changes in your defined benefit plans, our enrolled actuary and client service assistants will study the effects of any proposed plan changes and determine their financial impact. We will design alternative benefit provisions, assist in traversing the complex requirements for plan termination, or ease the difficult transition from any prior pension plan or service provider.